We study a global panel of green and conventional corporate bonds to assess the borrowing
cost advantage at issuance for green bond issuers. We find that, on average, green …

Over the last two decades, the unprecedented increase in non-bank financial intermediation,
particularly the rise of open-end mutual funds and exchange-traded funds, accounts for …

This paper explores the impact of capital market internationalization on firms' ESG
performance, utilizing the event that China A-shares were officially included in the MSCI …

A review of recent advances in open economy analysis under segmented international
financial markets. A set of modeling tools that have been used to understand financial crises …

We explore the relationship between portfolio flows and financial conditions by using a
unique and comprehensive database of US investor flows into emerging market government …

Emerging market corporations have significantly increased their borrowing in international
debt markets since 2008. We provide a detailed dive into this borrowing by showing that it …

We provide novel empirical evidence on the effects of cross-border bank lending on
emerging market economies'(EMEs) macro-financial conditions. We identify causal effects …

We study the effects of sovereign debt inflows on domestic firms. To do so, we exploit
episodes of large sovereign debt inflows, which follow the announcements of the inclusion …

Emerging market corporations have significantly increased their borrowing in international
markets since 2008. We show that this increase was driven by large-denomination bond …

First and foremost, I extend my deepest gratitude to my advisor, Prof. Dacheng Xiu, who has
guided me since my master's studies. Dacheng has not only been an exceptional academic …